MIAMI--(BUSINESS WIRE)--Florida East Coast Industries, Inc. (FECI), the owner of Florida’s
premier passenger rail corridor, is developing a privately owned,
operated and maintained passenger rail service to connect South Florida
and Orlando, which will be operational in 2014. By connecting the most
visited city in the United States with South Florida’s business and
vacation destinations, the passenger rail project, called All
Aboard Florida, is designed to serve Florida’s growing number of
business travelers, as well as families and tourists traveling for
pleasure.

The All Aboard Florida passenger rail project will connect South
Florida to Orlando through a 240-mile route combining 200 miles of
existing tracks between Miami and Cocoa and the creation of 40 miles of
new track to complete the route to Orlando. Eventually the system could
be expanded with connections to Tampa and Jacksonville.

More than fifty million people travel between South and Central Florida
annually, largely over highly congested highways. All Aboard Florida
is envisioned to transform the way people travel throughout the state,
offering a faster, safer, and more enjoyable mode of transportation
between Florida’s two largest metropolitan areas.

Targeted to begin service in 2014, the approximately $1 billion project
will operate on a regular schedule throughout the day transporting
business and leisure passengers between South Florida and Orlando in
approximately three hours. This new, convenient, affordable, fast and
environmentally friendly intercity passenger rail service is expected to:

(1) CREATE JOBS AND GROW FLORIDA’S ECONOMY—approximately 6,000 direct
jobs will be needed to construct the system and over 1,000 more jobs to
operate and maintain it; new economic development opportunities also
will be created for communities along the route;

(2) PROTECT THE ENVIRONMENT—the service will take millions of vehicles
off Florida’s roadways, resulting in a reduction in auto emissions and
allowing for a far more fuel-efficient alternative to the automobile at
this time of escalating gas prices;

(3) ENSURE SPEED AND RELIABILITY—travel time between regions will be
approximately three hours and train service will be frequent throughout
the day;

(4) PROTECT EXISTING FREIGHT CAPACITY—the new passenger service will not
affect freight capacity in the rail corridor, thereby supporting
Florida’s role in international commerce and allowing more intermodal
freight movements.

By adding an entirely new travel choice, the All Aboard Florida
passenger rail service will provide a high-quality experience for
travelers. The system will include business- and coach-class service
with advance purchase reserved seating, gourmet meals, Wi-Fi, and the
ability to work productively throughout the entire trip. In addition,
stations in Miami, Fort Lauderdale, West Palm Beach and Orlando mean
convenient transfers to Metrorail, Metromover or SunRail, allowing
passengers to reach their final destination.

FECI began a feasibility analysis for the project several months ago.
Additionally, an investment grade ridership study and engineering work
to design the system are underway. Today’s announcement marks the
beginning of working in depth with local, state and federal officials,
as well as the communities along the route.

Florida East Coast Industries, Inc. (FECI), through its
subsidiaries and affiliates, is a major owner and developer of real
estate and transportation-related businesses within the State of
Florida. Headquartered in Coral Gables, FL, FECI has a rich history
dating back over a century when Henry Flagler first established the
company and became a pioneer in the development of Florida’s eastern
coast. Today, the company owns, manages, develops and leases commercial
real estate properties, and its affiliate, the Florida East Coast
Railway, L.L.C., owns the railroad over which freight is transported.

All Aboard Florida is an intercity passenger rail project
that will connect South Florida to Orlando with intermediate stations in
Fort Lauderdale and West Palm Beach. This rail service will give
Floridians and visitors a viable transportation alternative to congested
highways and airport terminals. All Aboard Florida will provide a
high-quality experience for passengers and will be the first privately
owned, operated, and maintained passenger rail system in the United
States.